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What the total issue price of the bonds

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Question - On January 1, 2012, Haley Co. issued ten-year bonds with a face amount of P4,000,000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. What the total issue price of the bonds?

a. 4,000,000

b. 3,680,000

c. 3,920,000

d. 3,510,400

Reference no: EM132947322

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